Exam 18: Introduction to Accounting for State and Local Governmental Units

Which of the following funds would account for operations that are financed and operated in a manner similar to private business enterprises?

(Multiple Choice)

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Question 21

The highest level of priority of pronouncements that a government entity should look to for accounting and reporting guidance is

(Multiple Choice)

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Question 22

Part of the general obligation bond proceeds from a new issuance was used to pay for the cost of a new city hall as soon as construction was completed.The remainder of the proceeds was transferred to repay the debt.Entries are needed to record these transactions in the

(Multiple Choice)

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Question 23

Which type of fund can be either expendable or nonexpendable?

(Multiple Choice)

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Question 24

When a truck is received by a governmental unit, it should be recorded in the General Fund as a(n)

(Multiple Choice)

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Question 25

Showing 21 - 25 of 25

Which of the following funds would account for operations that are financed and operated in a manner similar to private business enterprises?

The highest level of priority of pronouncements that a government entity should look to for accounting and reporting guidance is

Part of the general obligation bond proceeds from a new issuance was used to pay for the cost of a new city hall as soon as construction was completed.The remainder of the proceeds was transferred to repay the debt.Entries are needed to record these transactions in the

Which type of fund can be either expendable or nonexpendable?

When a truck is received by a governmental unit, it should be recorded in the General Fund as a(n)

Introduction to Business Combinations and the Conceptual Framework

Accounting for Business Combinations

Consolidated Financial Statementsdate of Acquisition

Consolidated Financial Statements After Acquisition

Allocation and Depreciation of Differences Between Implied and Book Value

Elimination of Unrealized Profit on Intercompany Sales of Inventory

Elimination of Unrealized Gains or Losses on Intercompany Sales of Property and Equipment

Changes in Ownership Interest

Intercompany Bond Holdings and Miscellaneous

Insolvency Liquidation and Reorganization

International Financial Reporting Standards

Accounting for Foreign Currency Transactions

The Translation of Financial Statements of Foreign Affiliates

Reporting for Segments and for Interim Financial Periods

Partnerships: Formation, Operation, and Ownership Changes

Partnership Liquidation

Introduction to Fund Accounting

Accounting for Nongovernment Nonbusiness Organizations:

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